Enbridge plans huge Canada, US pipeline expansion

CALGARY, Alberta (Reuters) - Enbridge Inc kicked off one of the most sweeping expansions in its history on Wednesday, a C$3.2 billion ($3.2 billion)series of projects across its pipeline system aimed at moving western Canadian crude to Eastern refineries and preventing bottlenecks in the U.S. Midwest. Enbridge, already the largest transporter of Canadian oil exports, said C$2. ...

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CALGARY, Alberta (Reuters) - Enbridge Inc kicked off one of the most sweeping expansions in its history on Wednesday, a C$3.2 billion ($3.2 billion)series of projects across its pipeline system aimed at moving western Canadian crude to Eastern refineries and preventing bottlenecks in the U.S.

Big shippers, including Imperial Oil Ltd, Exxon Mobil Corp, Suncor Energy Inc, Marathon Petroleum Corp and Phillips 66, have all filed motions with the regulator in protest
CALGARY — Enbridge Inc and its crude oil pipeline customers are battling over a plan by the company to try to cut the over-booking of capacity on the massive export network that has played a role in the deep discounting of Canadian crude prices.

Enbridge Inc , Canada’s second-largest pipeline company, reported an 8% fall in quarterly profit as it was hurt by an after-tax charge of $105-million related to certain offshore assets.
The company and Energy Transfer on Friday said they will work together to provide crude oil pipeline access to the eastern Gulf Coast refinery market from Patoka, Illinois, a crude storage and blending hub.

New England is in an uproar over a pipeline reversal that would allow Canadian oil sands to be transported from Montreal to Portland in Maine, en route to global markets.
Last month, Vermont’s environmental regulators ruled that the reversal would trigger “substantial change” and will require a permit. New Hampshire Governor Maggie Hassan has written to U.S. Secretary of State John Kerry pleading to “protect New Hampshire’s economy and environment.”

Canadian pipeline rivals Enbridge Inc. and TransCanada Corp. are earmarking billions for new pipelines to capture a larger slice of North America’s crude oil market. Some investors say Enbridge is the better bet.
Headquartered on the same downtown Calgary street, the two companies plan to spend a combined $74-billion through 2018 on projects including pipelines and power generation. Enbridge, already Canada’s largest transporter of crude, stands to profit more from increased demand as TransCanada struggles to win U.S. approval for the Keystone XL project.

Enbridge Inc. is moving ahead with plans to meet five conditions for the British Columbia government to support its proposed Northern Gateway oil pipeline, after a Liberal re-election made clear terms needed to satisfy officials in the Pacific Coast province.

CALGARY — The Canadian crude oil hubs of Hardisty and Edmonton in Alberta are embarking on a major round of storage expansion that should boost capacity by about 25 percent and provide more scope for trading oil sands crude production.
According to company data and estimates from energy intelligence firm Genscape, the projects should add around 9 million barrels of capacity over the next two years.

CALGARY — Enbridge Inc. and its U.S. affiliate are spending $6.2-billion on a series of projects to bring growing volumes of Alberta and North Dakota light oil to market.
The Calgary-based company says it has enough shipper support to go ahead with its light oil market access program, which will see an additional 400,000 barrels per day of light oil flow to refineries in Ontario, Quebec and the U.S. Midwest.

Behind all the opposition to new pipeline projects, there is a massive reshaping going on of North America’s energy infrastructure backbone, and Enbridge Inc. took a big leap Thursday to position itself for the coming growth.